Group 1 - The mechanical parking garage is facing significant challenges, with many users preferring traditional parking spaces due to difficulties in parking and retrieval processes [1][3][7] - The market for mechanical parking garages is declining, with companies like Wuyang Zikong and Sanpu Co., Ltd. experiencing substantial revenue drops in their related business segments [2][5][6] - The actual usage rate of mechanical parking garages is low, with some areas reporting vacancy rates as high as 45%, despite a significant number of garages being built [4][11] Group 2 - The design flaws of mechanical parking garages, such as insufficient space for larger vehicles and the need for specialized maintenance, contribute to their poor user experience [7][8][9] - Newer models of mechanical garages are being developed to address these issues, featuring wider spaces and improved technology for vehicle retrieval, but the initial investment and operational costs remain high [11][12][13] - The parking space shortage in urban areas continues to be a pressing issue, with a significant gap between the number of cars and available parking spots, indicating potential for future growth in the mechanical parking garage market if challenges can be addressed [12][13]

| 证券代码：300486 | 证券简称：东杰智能 | 公告编号：2025-121 | | --- | --- | --- | | 债券代码：123162 | 债券简称：东杰转债 | | 东杰智能科技集团股份有限公司 关于东杰转债赎回实施暨即将停止交易的重要提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1、最后交易日：2025 年 9 月 22 日 2025 年 9 月 22 日为"东杰转债"最后一个交易日，当日"东杰转债"简 称为"Z 杰转债"，2025 年 9 月 22 日收市后"东杰转债"将停止交易。 2、最后转股日：2025 年 9 月 25 日 2025 年 9 月 25 日为"东杰转债"最后一个转股日，当日收市前，持有"东 杰转债"的投资者仍可进行转股。2025 年 9 月 25 日收市后，仍未实施转股的 "东杰转债"将停止转股，剩余可转债将按照 100.95 元/张（含税）的价格 强制赎回。若被强制赎回，投资者可能面临损失，敬请投资者注意投资风险。 截至 2025 年 9 月 17 日收市后，距离"东杰转债"停止交易 ...

Group 1 - Dongjie Intelligent announced that as of September 25, 2025, any unconverted "Dongjie Convertible Bonds" will be forcibly redeemed at a price of 100.95 yuan per bond [2] - The current secondary market price of "Dongjie Convertible Bonds" significantly differs from the redemption price, prompting a reminder for bondholders to convert their bonds within the specified period [2] - Investors who fail to convert their bonds in time may face potential losses, highlighting the importance of being aware of investment risks [2]

Core Insights - The mechanical parking system, once seen as a solution to urban parking shortages, is facing significant challenges in user adoption and operational efficiency [4][7][21] - Companies involved in the mechanical parking sector are experiencing declining revenues, with major players like Wuyang Zikong and Sanpu Co. reporting substantial drops in income from their parking services [4][10][14] Industry Overview - The mechanical parking system was expected to alleviate parking difficulties in urban areas, but user experiences have been largely negative due to design flaws and inefficiencies [5][15] - As of early 2025, over 12,000 mechanical parking facilities have been built in China, providing more than 10 million parking spaces, yet the actual usage rate is below 62%, with some areas seeing vacancy rates as high as 45% [9][21] Company Performance - Wuyang Zikong's revenue from mechanical parking services has decreased from over 1 billion yuan in 2020 to 550 million yuan in 2024 [4][10] - Sanpu Co. has also seen a decline in its mechanical parking-related sales, dropping from 160 million yuan in 2022 to approximately 81 million yuan in 2024 [4][14] - Dongjie Intelligent's mechanical parking system revenue has significantly decreased from 150 million yuan in 2021 to just 406,240 yuan in 2024, despite a recent slight increase [12][14] User Experience Challenges - Users report difficulties with the mechanical parking system, including inadequate space for larger vehicles and slow retrieval times, which can exceed one minute even without queues [15][17] - The design of many mechanical parking systems does not accommodate the increasing size of modern vehicles, leading to frustration among users [15][16] Market Potential and Future Outlook - Despite current challenges, there remains a significant parking space shortage in urban areas, with estimates suggesting a gap of over 80 million parking spaces nationwide [22][23] - Innovations in mechanical parking technology, such as wider parking spaces and improved operational efficiency, may provide opportunities for future growth in the sector [21][22]

东杰智能科技集团股份有限公司 关于提前赎回东杰转债的第二十次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 | | | 特别提示： 1、"东杰转债"赎回价格：100.95 元/张（含当期应计利息，当期年利率为 1%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深 圳分公司（以下简称"中国结算"）核准的价格为准。 11、根据安排，截至 2025 年 9 月 25 日收市后仍未转股的"东杰转债"将被 强制赎回，本次赎回完成后，"东杰转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"东杰转债"持券人注意在限期内转股。债券持有人持有 的"东杰转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 2、赎回条件满足日：2025 年 8 月 19 日 3、停止交易日：2025 年 9 月 23 日 4、赎回登记日：2025 年 9 月 25 日 5、赎回日：2025 年 9 月 26 日 6、停止转股日：2025 年 9 月 26 日 7、赎回资金到账日（到达中国结算账户）：2025 ...

Core Viewpoint - Dongjie Intelligent experienced a decline of 5.45% on September 16, with a stock price of 21.85 CNY per share and a total market capitalization of 9.96 billion CNY [1] Company Overview - Dongjie Intelligent Technology Group Co., Ltd. is located in Taiyuan, Shanxi Province, and was established on December 14, 1995, with its listing date on June 30, 2015 [1] - The company's main business includes the research, design, production, and sales of intelligent logistics conveying systems, intelligent logistics storage systems, intelligent parking garages, and intelligent painting production lines for automobiles [1] - Revenue composition is as follows: intelligent logistics storage systems 79.11%, intelligent production systems 18.51%, spare parts and others 1.67%, and intelligent three-dimensional parking systems 0.70% [1] Shareholder Information - Among the top ten circulating shareholders of Dongjie Intelligent, one fund under Huaxia Fund holds shares. The Huaxia CSI Robot ETF (562500) increased its holdings by 378,900 shares in the second quarter, totaling 6.3982 million shares, which accounts for 1.61% of the circulating shares [2] - The estimated floating loss for the ETF today is approximately 8.0617 million CNY [2] Fund Performance - The Huaxia CSI Robot ETF (562500) was established on December 17, 2021, with a latest scale of 14.471 billion CNY [2] - Year-to-date return is 33.79%, ranking 1246 out of 4222 in its category; the one-year return is 88.73%, ranking 740 out of 3804; and since inception, the return is 3.95% [2]

Core Points - Dongjie Intelligent announced that the "Dongjie Convertible Bonds" will be forcibly redeemed at a price of 100.95 CNY per bond if not converted by the market close on September 25, 2025 [2] - The current market price of the "Dongjie Convertible Bonds" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2]

| 证券代码：300486 | 证券简称：东杰智能 | 公告编号：2025-119 | | --- | --- | --- | | 债券代码：123162 | 债券简称：东杰转债 | | 东杰智能科技集团股份有限公司 关于提前赎回东杰转债的第十九次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1、"东杰转债"赎回价格：100.95 元/张（含当期应计利息，当期年利率为 1%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深 圳分公司（以下简称"中国结算"）核准的价格为准。 11、根据安排，截至 2025 年 9 月 25 日收市后仍未转股的"东杰转债"将被 强制赎回，本次赎回完成后，"东杰转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"东杰转债"持券人注意在限期内转股。债券持有人持有 的"东杰转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 2、赎回条件满足日：2025 年 8 月 19 日 3、停止交易日：2025 年 9 月 23 日 4、赎回登记 ...

Group 1 - The core announcement from Dongjie Intelligent indicates that the "Dongjie Convertible Bonds" will be forcibly redeemed at a price of 100.95 yuan per bond if not converted by the market close on September 25, 2025 [2] - The current secondary market price of the "Dongjie Convertible Bonds" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2]

11、根据安排，截至 2025 年 9 月 25 日收市后仍未转股的"东杰转债"将被 强制赎回，本次赎回完成后，"东杰转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"东杰转债"持券人注意在限期内转股。债券持有人持有 的"东杰转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 | | | 东杰智能科技集团股份有限公司 关于提前赎回东杰转债的第十八次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1、"东杰转债"赎回价格：100.95 元/张（含当期应计利息，当期年利率为 1%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深 圳分公司（以下简称"中国结算"）核准的价格为准。 2、赎回条件满足日：2025 年 8 月 19 日 3、停止交易日：2025 年 9 月 23 日 4、赎回登记日：2025 年 9 月 25 日 5、赎回日：2025 年 9 月 26 日 6、停止转股日：2025 年 9 月 26 日 7、赎回资金到账日（到达中国结算账户）：2025 ...